Total industrial production increased 1.1% month-over-month in April (Briefing.com consensus 0.5%), marking the fourth consecutive month of gains of 0.8% or greater.
The capacity utilization rate increased to 79.0% (Briefing.com consensus 78.6%) from a downwardly revised 78.2% (from 78.3%) in March.
Manufacturing output increased 0.8% after increasing 0.8% in March. Motor vehicle assemblies increased 7.5% month-over-month to a seasonally adjusted annual rate of 10.58 million units.
Mining production rose 1.6% after increasing 1.9% in March.
The output of utilities jumped 2.4% after declining 0.3% in March.
Total industrial production was up 6.4% yr/yr. The capacity utilization rate of 79.0% was 0.5 percentage points below its long-run average.
The key takeaway from the report is that it shows ongoing strength in industrial production and exposed the potential for further strength as motor vehicle production is expected to improve with any improvement in supply chains, particularly for semiconductors.| APR | MAR | FEB | JAN | DEC | |
|---|---|---|---|---|---|
| Industrial Production | |||||
| Total Index | 1.1% | 0.9% | 1.0% | 0.8% | -0.3% |
| Manufacturing | 0.8% | 0.8% | 1.3% | -0.1% | -0.1% |
| Utilities | 2.4% | -0.3% | 0.0% | 7.5% | -2.6% |
| Mining | 1.6% | 1.9% | 0.2% | 0.5% | 0.4% |
| Capacity Utilization | |||||
| Total Industry | 79.0% | 78.2% | 77.6% | 76.9%% | 76.4% |
| Manufacturing | 79.2% | 78.6% | 78.0% | 77.0% | 77.1% |
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